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Policy.It is the policy of the United States to establish a Strategic Bitcoin Reserve. It is further the policy of the United States to establish a United States Digital Asset Stockpile that can serve as a secure account for orderly and strategic management of the United States’ other digital asset holdings.
Purpose. The United States possesses vast mineral resources that can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations. Transportation, infrastructure, defense capabilities, and the next generation of technology rely upon a secure, predictable, and affordable supply of minerals. The United States was once the world’s largest producer of lucrative minerals, but overbearing Federal regulation has eroded our Nation’s mineral production. Our national and economic security are now acutely threatened by our reliance upon hostile foreign powers’ mineral production. It is imperative for our national security that the United States take immediate action to facilitate domestic mineral production to the maximum possible extent.
Former Newmont (biggest gold producer in the world) executive David Copley to oversee the mining portfolio for the U.S. National Energy Dominance Council, two sources say Copley will be highest-ranking person in the federal government overseeing the U.S. mining industry
Donald Trump said the US would impose a 25% tariff on all imports from any country that buys oil or gas from Venezuela, in a move that could sharply raise levies on goods from China and India, two of Caracas’s biggest oil buyers
Italian energy company Eni said it had been notified by US authorities that it can no longer be repaid for gas that it produces in Venezuela through oil supplies from state-owned PDVSA
Siemens announces $285 million investment in U.S. manufacturing
United Arabs Emirates commits to $1.4 trillion U.S. investment
Hyundai plans to invest $21 billion in the U.S. operations through 2028
Taiwanese companies, like TSMC and its smaller peers, are accelerating a shift to manufacture more in the US as Trump threatens more tariffs and trade barriers.
TARIFF GAME Continues
Tariffs of 25% on Canada and Mexico were supposed to begin March 4th. Got postponed. Now it appears Trump is holding on to see Canadian election results before seeking any negotiations/making any moves.
Tariffs on agriculture imports were to begin April 2nd
President Donald Trump made a threat to increase the steel and aluminum tariff on Canadian goods to 50% in retaliation against Ontario’s move to place a levy on electricity imported from the US, and potentially even cut it. Doug Ford’s threat lasted a few hours before he realized that was a very dumb counter move.
100% tariff on Canadian rapeseed oil, oil cakes and peas
25% levy would be placed on aquatic products and pork
This follows the move by Canada to impose a 100% import tariff on Chinese-made EVs and 25% import tariffs on steel and aluminum products from China, in effect since October, 2024.
“Canada’s unilateral imposition of tariffs disregards objective facts and World Trade Organization rules, is a typical trade protectionist practice, constitutes a discriminatory measure against China, seriously infringes on China’s legitimate rights and interests, and undermines China-Canada economic and trade relations,” China’s customs authorities said in a statement
President Trump’s plan to waive all taxes for Americans earning under $150,000 per year will take effect “after he balances the budget,” according to Commerce Secretary Howard Lutnick. In the face of tariffs to be potentially imposed by Trump, one of the objectives claimed is to utilize the tariff revenue that could potentially permit taxes to be eliminated for US incomes of $150,000 or less. Question now becomes, what becomes of this tax removal if most tariffs are resolved and/or negotiated to a lesser amount?
Largest EPA de-regulatory rollback of key environmental issues around pollution, climate and EVs.
After the fallout in the Oval Office between Trump and Zelensky around the issue of finding peace with Russia, The United States stopped sharing intelligence with Ukraine, but that then got resolved and came back. Even CNN admits on air that Americans are much happier with how Trump is handling the Russia-Ukraine war than with how Biden handled it.
Starmer and Zelensky signed an agreement providing Ukraine’s military forces with USD $3.3 billion. Of which 1.6 billion euros can be used to buy 5000 anti-craft missiles.
Starmer in a press conference during the Zelensky meeting said the UK is ready to put “Boots on the ground and planes in the air” to defend a peace deal in Ukraine.
Prime Minister Starmer also stated:
“I am also clear that national security is economic security,………As well as levelling up Ukraine’s air defence, this loan will make working people here in the UK better off, boosting our economy and supporting jobs in Northern Ireland and beyond.”
“By doubling down on our support, working closely with key partners, and ensuring Ukraine has a strong voice at the table, I believe we can achieve a strong, lasting deal that delivers a permanent peace in Ukraine.”
Justifying supporting conflict through job creation and an economic boost? Do they truly want to end the conflict?
“War is never economically beneficial except for those in position to profit from war expenditures.”
Ron Paul
Zelensky stated also in an interview while in London “As it regards to my resignation, to change me, it will not be easy because it is not enough to simply hold elections. You’ll have to negotiate with me. I’m exchangeable for NATO membership.”
But in a meeting with Trump, the NATO Chief Rutte confirmed NATO Membership For Ukraine was off the table.
Macron’s emergency meeting with Zelensky ends with an offer of $2 billion euros in military aid for Ukraine. The package includes anti-tank missiles, air defense systems, Mirage fighter jet missiles, armored vehicles, ammunition, and other aid.
The two leaders met ahead of a “coalition of the willing” summit. The Paris summit on March 27 will brought together Germany, Poland, the U.K., and other coalition members who have pledged to support Ukraine’s post-war security.
Putin on Macron after he announced supporting French troops in Ukraine if necessary: “There are people who want to return to the times of Napoleon’s invasion, but forget how it ended”
In the face of this realization from the Western European countries to focus on their own domestic military capabilities, the re-industrialization of these former military economies are showing their colors again. The European Union agreed to begin discussions on a long-term reform of its fiscal rules to allow member states to spend more on defense, following a push from Germany. Remember the last time Germany became a military economy?
Danish Pm Mette Frederiksen said:
“Peace in Ukraine is more dangerous than the ongoing war.”
March 18th, the European Commission unveiled the White Paper for European Defence and the ReArm Europe Plan/Readiness 2030.
The White Paper outlines a number of key lines of action:
Closing capability gaps, with a focus on critical capabilities identified by Member States.
Supporting the European defence industry through aggregated demand and increased collaborative procurement.
Supporting Ukraine through increased military assistance and deeper integration of the European and Ukrainian defence industries.
Deepening the EU-wide defence market including through simplifying regulations.
Accelerating the transformation of defence through disruptive innovations such as AI and quantum technology.
Enhancing European readiness for worst-case scenarios, by improving military mobility, stockpiling and strengthening external borders, notably the land border with Russia and Belarus.
Strengthening partnership with like-minded countries around the world.
Commission President Ursula von der Leyen said: “The era of the peace dividend is long gone. The security architecture that we relied on can no longer be taken for granted. Europe is ready to step up. We must invest in defence, strengthen our capabilities, and take a proactive approach to security. We are taking decisive action, presenting a roadmap for ‘Readiness 2030’, with increased defence spending, important investments in European defence industrial capabilities. We must buy more European. Because that means strengthening the European defence technological and industrial base. That means stimulating innovation. And that means creating an EU-wide market for defence equipment.”
In a press statement, President Von der Leyen on the defence package in relation to the ReArmement stated:
“The first part of this ReArm Europe plan is to unleash the use of public funding in defence at national level. Member States are ready to invest more in their own security if they have the fiscal space. And we must enable them to do so. This is why we will shortly propose to activate the national escape clause of the Stability and Growth Pact. It will allow Member States to increase significantly their defence expenditures without triggering the Excessive Deficit Procedure. For example: If Member States would increase their defence spending by 1,5% of GDP on average this could create fiscal space of close to EUR 650 billion over a period of four years.
The second proposal will be a new instrument. It will provide EUR 150 billion of loans to Member States for defence investment. This is basically about spending better – and spending together. We are talking about pan-European capability domains. For example: air and missile defence, artillery systems, missiles and ammunition drones and anti-drone systems; but also to address other needs from cyber to military mobility for example. It will help Member States to pool demand and to buy together. Of course, with this equipment, Member States can massively step up their support to Ukraine. So, immediate military equipment for Ukraine. This approach of joint procurement will also reduce costs, reduce fragmentation, increase interoperability and strengthen our defence industrial base. And it can be to the benefit of Ukraine, as I have just described. So this is Europe’s moment, and we must live up to it.
Third point is using the power of the EU budget. There is a lot that we can do in this domain in the short term to direct more funds towards defence-related investments. This is why I can announce that we will propose additional possibilities and incentives for Member States that they will decide, if they want to use cohesion policy programmes, to increase defence spending.
The last two areas of action aim at mobilising private capital by accelerating the Savings and Investment Union and through the European Investment Bank.
To conclude: Europe is ready to assume its responsibilities. ReArm Europe could mobilise close to EUR 800 billion for a safe and resilient Europe. We will continue working closely with our partners in NATO. This is a moment for Europe. And we are ready to step up.”
European Military powers work on a 5-10 year plan to replace US in NATO according to an FT report. The newspaper cited four European officials involved claiming the UK, France, Germany and the Nordics are among the countries engaged in the informal but structured discussions.
Seems to go right along with the new ReArm Europe plan that has been revealed.
FAST TRACKING EURO CBDC
It seems to facilitate this financial ecosystem to ReArm as the EU and NATO so badly want, fast tracking the development of the EURO CBDC by October 2025 may be part of the grand scheme. This initiative represents one of the most significant changes to the European monetary system in decades, with both wholesale and retail implementations planned.
A major point of contention surrounding the digital euro is privacy. Unlike physical cash, which offers anonymity, the retail digital euro raises significant concerns:
Reduced Anonymity: Digital transactions are inherently trackable, potentially allowing authorities to monitor spending habits, though the ECB has stated it won’t track individual transactions.
Surveillance Potential: Critics fear the infrastructure could enable unprecedented financial surveillance by governments or central banks.
Capital Controls: During crises, such as potential conflicts in Europe, CBDCs could enable rapid implementation of capital controls, restricting how much money can be withdrawn, transferred, or spent.
Programmable Money: CBDCs potentially allow for “programmable money” where spending could be restricted to certain categories, timeframes, or locations.
Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, University College Cork Economics Society Conference 2025
UKRAINE vs RUSSIA& TRUMP’s PEACE DEAL
On March 18th, Ukraine agreed to accept a US proposal for an immediate, 30-day ceasefire on energy infrastructure in the conflict with Russia and Russian President Putin officially agreed to US President Trump’s ceasefire proposal with Ukraine.
ENGLAND
The UK announced it would provide loans totaling £2 billion to allied governments to buy from British defense companies
Olaf also said: “By strengthening the European pillar of NATO, we will strengthen the trans-Atlantic alliance as a whole.”
NATO Secretary General Mark Rutte took to social media to congratulate the outgoing and incoming chancellors of Germany for their “historic agreement” to boost defense investment by reforming the debt brake. Mark Rutte said:
“This sends a powerful message of leadership and commitment to our shared security. It will make a profound difference in NATO’s ability to deter and defend.”
The multibillion-euro package loosens borrowing limits and allows new investments in defense, infrastructure and climate. This dismantles the constitutional debt brake on military spending. The plan was backed by the conservative CDU/CSU alliance, center-left SPD and Greens. Germany is re-industrializing again through military expansion. GOing back to its 20th century roots?
Katja Mast, the SPD’s chief whip in the Bundestag, also praised lawmakers for their decision to set up an additional special fund of €500 billion ($545 billion) to boost the country’s economy.
“With a special fund of €500 billion, we are launching the largest infrastructure program in German history,” she told news agency Reuters.
Merz had given the Green party guarantees that €100 billion of the special fund would be directed to supporting climate economic transformation measures
FRENCH Court Sentences Marine Le Pen to 4 YEARS In PRISON
Marine Le Pen to serve 4 years in prison, 2 of which will be served in house arrest with an ankle monitor. She is also banned from running in the presidential elections in 2027, as she has a 5 year ineligibility for public office.
Le Pen and other National Rally party officials stood trial for having used money intended for European Union parliamentary aides instead to pay staff who worked for the party between 2004 and 2016, violating the 27-nation bloc’s regulations. The National Rally was called the National Front at the time.
The judge said Le Pen had been at the heart of a “system” that her party used to siphon off EU parliament money.
ROMANIA
Romania has banned Calin Georgescu from running for President. He is the former Executive Director of the United Nations.
The budget plan comes to roughly $245 billion (€228.7bn).
Premier Li Qiang told the almost 3,000 party supporters at the Congress on Wednesday that while China still favours a peaceful resolution to the Taiwan problem, it “resolutely opposes” those advocating for Taiwan’s formal independence and their international backers. Meanwhile, Taiwan, which has strong ties to the US, has said it is planning to boost military spending in the face of the “rapidly changing international situation and the escalating threats from adversaries.”
“We will firmly advance the cause of China’s reunification and work with our fellow Chinese in Taiwan to realise the glorious cause of the rejuvenation of the Chinese nation,” Li said.
China has the largest navy in the world, and its military spending is second only to the US.
TURKEY
Turkish lira sank 10% and stocks plunged 7% after Istanbul Mayor Ekrem Imamoglu was arrested. Massive protests break out.
Investing.com — Turkey’s benchmark stock index, BIST 100, fell sharply by 6.9% following the detention of Istanbul Mayor Ekrem Imamoglu on charges including graft and aiding a terrorist group.
The Turkish lira fell as much as 10% against the U.S. dollar, exchanging hands at 40.5750 at 07:46 GMT.
The move by Turkish authorities has drawn criticism from the main opposition party, which has labeled it a “coup attempt against the next president.”
Imamoglu, a prominent member of the opposition Republican People’s Party (CHP), is widely regarded as a strong challenger to President Tayyip Erdogan. He is seen as a significant figure on the national stage and a likely presidential candidate for the CHP in the forthcoming election.
The arrest on Wednesday, along with accusations of leading a crime organization, bribery, and tender rigging, has intensified a political conflict that may have far-reaching implications for the country’s future.
Abdallah Maki Mosleh al-Rifai, or “Abu Khadija,” was “deputy caliph” of the militant group and claimed to be one of the most dangerous terrorists in Iraq and the world.
U.S. President Donald Trump said: “Today the fugitive leader of ISIS in Iraq was killed. He was relentlessly hunted down by our intrepid warfighters in coordination with the Iraqi government and the Kurdish regional government.”
Saudi Arabia, the UAE, Qatar and Kuwait have all told the US they will not permit their airspaces or territories to be used as a launchpad against Iran, including for refueling and rescue operations, a senior US official told Middle East Eye.
ISRAEL & LEBANON’s HEZBOLLAH
New rocket launches put Israel & Hezbollah on brink of war again when rockets were launched from Lebanon and intercepted by Israel. Israel promised to retaliate accordingly.
SYRIA
Clashes re-ignite between Jolani’s forces and the remnants of Assad regime.
Interim President Ahmed al-Sharaa, whose Islamist group led the offensive that toppled Assad, had vowed to “hold accountable, firmly and without leniency, anyone who was involved in the bloodshed of civilians”. He formed a committee to investigate the violence in some cities that killed hundreds of civilians and sparked condemnation from the international community.
His forces are responsible? Or no? Is he therefore not accountable?
The U.S. and Israel supported this regime shift…………
YEMEN
Yemen shot down another MQ-9 operated by the US military, the first one under Donald Trump.
The Houthis targeted the USS Harry S. Truman, in the Red Sea after the bombardment of Yemen. Yemen confirmed that it launched 18 ballistic missiles against the US Truman aircraft carrier.
Supreme Leader of Yemen has declared that from now on All American Ships are banned from entering the Red Sea
Iraelis’s are running to BOMB SHELTERS amid YEMEN’S missile attack..
QATAR
As host to the largest US military base in the region, Qatar refuses to support strikes against Iran.
U.S. approves $2 billion arms sales to Qatar to buy eight armed MQ-9B Predator drones for its military. Qatar is the second-largest purchaser of US military equipment after Saudi Arabia, spending over $26 billion for F-15 fighter jets, Apache attack helicopters, missile defense systems and other gear.
IRAN
Iran rejects US President Trump’s request for nuclear talks.
“Iran will not accept America’s demands.”
Amid Trump’s threats against Iran
China and Russia together with Iran will hold naval exercises near the Strait of Hormuz starting tomorrow
NORTH KOREA
North Korea launched missiles toward the Yellow Sea while denouncing the joint military drills between the US and South Korea, saying the South Korean Air Force’s recent bombing mistake shows the risk of the region unintentionally getting dragged into a new armed conflict.
The military-led West African nations of Mali, Burkina Faso and Niger have announced their withdrawal from the Organization Internationale de la Francophonie, which brings together French-speaking countries
UGANDA
Uganda’s army said it killed 242 fighters belonging to a Congolese rebel group known as CODECO after they attacked a Ugandan military camp across the border in east Congo earlier this week
SUDAN
The Sudanese army made a statement at the end of March that it had taken control of a major market in Khartoum’s twin city of Omdurman, which had previously been used by their Rapid Support Forces (RSF) rivals to launch attacks during a devastating two-year-old war. The statement comes days after the Sudanese army declared victory over the RSF in Khartoum, claiming control of most parts of the capital.
The war erupted amid a power struggle between the army and RSF ahead of a planned transition to civilian rule. It ruined much of Khartoum, uprooted more than 12 million Sudanese from their homes, and left about half of the 50 million population suffering acute hunger.
CANADA
Trudeau bails and lets Mark Carney step into the role of Prime Minister. After all, do not forget, Canadians vote for a party, represented by a figure head. The figure head is interchangeable. March 9th, Carney is officially the new Prime Minister
Carney on Trump
“Canada cannot rely on U.S. any longer and must achieve economic autonomy”
An unelected interim government led by Nobel Peace Prize laureate Muhammad Yunus has been running the South Asian country of 173 million since August, after deadly student-led protests forced Prime Minister Sheikh Hasina, a long-time India ally, to flee to New Delhi.
ECONOMICS
CENTRAL BANKS
FED – Holds rates steady at a range of 4.25% – 4.5%
The Federal Reserve ran an operating loss of $77.6 billion in 2024 after a loss of $114.3 billion in 2023.
Goldman Sachs economists now expect the Federal Reserve will cut interest rates three times this year
BOC – Cut interest rates by 25 basis points, down to 2.75%. The second rate cut of 2025
BOJ – Kept rates steady at 0.5%
Japan’s 10-year government bond yield has surged to its highest point in 16 years.
ECB – cut three key ECB interest rates by 25 basis points
BOE – Bank of England keeps rates on hold, warns against assumptions for cuts in face of uncertainty
A Race for Commodities
USA
On the Critical Minerals front, we have seen a lot of government activity around the issue as competition to secure resources is becoming a growing issue for many economies, especially in the West.
“Mineral” means a critical mineral, as defined by 30 U.S.C. 1606(a)(3), as well as uranium, copper, potash, gold, and any other element, compound or material as determined by the Chair of the National Energy Dominance Council (NEDC).
According to FT’s analysis of government publications, at least half of the 34 provincial governments have given additional subsidies or expanded access to mineral exploration companies over the past year. These include top resource-producing regions such as Xinjiang, which increased its spending on exploration to 650 million renminbi ($90 million) this year from 150 million ($21 million) in 2023.
Since 2022, the nation as whole has devoted $13.8 billion to geological exploration annually — the highest investment over a three-year period in a decade, FT estimates.
In January, the China Geological Survey (CGS) confirmed that Chinese geologists have found what could be the largest medium and heavy rare earths deposit in the country, containing over 1 million tonnes in resources.
In the same month, the CGS also announced the discovery of a 2,800-km belt in Western China that it says could “reshape the distribution pattern of lithium resources” and more importantly, has elevated China as the second-largest holder of lithium resources in the world.
Earlier this year, FT reported that the Chinese government, through state-backed entities, has issued $57 billion in loans to support the mining and processing of copper, cobalt, nickel, lithium and rare earths across the developing world
THE EU
The European Commission published a list of 47 strategic projects on Tuesday to boost the EU’s production of 14 of the 17 materials it deems critical for its energy transition and security.
The 47 new Strategic Projects are located across 13 EU Member States: Belgium, France, Italy, Germany, Spain, Estonia, Czechia, Greece, Sweden, Finland, Portugal, Poland and Romania. They cover one or more segments of the raw material value chain, with 25 projects comprising extraction activities, 24 processing, 10 recycling and 2 substitution of raw materials. The Strategic Projects cover 14 of the 17 strategic raw materials listed in the Critical Raw Materials Act. This includes several projects covering lithium (22 projects), nickel (12 projects), cobalt (10 projects), manganese (7 projects) and graphite (11 projects) which will particularly benefit the EU battery raw material value chain.
To become operational, the 47 Strategic Projects have an expected overall capital investment of €22.5 billion. These projects will be able to benefit from coordinated support by the Commission, Member States and financial institutions to become operational, notably regarding access to finance and support to connect with relevant off-takers.
Up to $50 million to advance work under the Canadian Critical Minerals Strategy to support infrastructure development, innovation and data collection while partnering with Indigenous communities on the engagement, participation and capacity building needed to achieve Canada’s potential as a world leader in sustainable and responsibly sourced critical minerals.
The official launch of the second CFP under the Critical Minerals Infrastructure Fund, with over $500 million in available funding for clean energy and transportation infrastructure projects to enable the sustainable development and expansion of critical minerals production in Canada.
Lastly, at the Convention, the Minister signed the Collaboration Arrangement on Critical Minerals and Mining Sustainability with Argentina, which aims to make mining more sustainable by improving funding tools, tax policies, environmental and social standards, technology and workforce development. In addition, the Minister met with his counterpart from the Netherlands, with whom he discussed ways to increase collaboration on critical minerals and hydrogen, with a special focus on investment opportunities to grow Canada’s critical minerals market in Europe.
UZBEKISTAN
Uzbekistan launches a $2.6 billion initiative to bolster the minerals sector, with a three-year plan focusing on the extraction of critical minerals being sought out by the United States.
President Shavkat Mirziyoyev, who laid out plans to develop 76 projects covering 28 different elements.
To date, the Central Asian nation has identified significant deposits of critical minerals such as tungsten, lithium, titanium and vanadium, most of which have yet to be developed due to a lack of investment. These elements, according to Mirziyoyev, will be the focus of the billion-dollar initiative amid rising global interest for the roles they play in advanced technologies.
The $2.6 billion funding will be directed towards building the necessary infrastructure and skills to leverage modern mining technologies. This will involve the creation of technology hubs in the Tashkent and Samarkand regions to train specialists in using new technologies and promote best mining practices.
The Saudi industry and mineral resources ministry awarded on Tuesday mining exploration licenses to several local and international firms.
(Reuters) The licenses were awarded to Indian miner Vedanta and a consortium comprising local Ajlan & Bros and China’s Zijin Mining among others.
The ministry said the miners would spend approximately 366 million riyals ($97.59 million) on exploration over the next three years.
US ECONOMY
Commentaries on US economy
$1.5 trillion Deutsche Bank warns the US Dollar is at risk of losing its dominance.
Gundlach is saying the odds of recession this year are 60%.
Moody’s is warning that the united states fiscal strength is on track for a continued multi-year decline
Goldman Sachs $GS has raised the probability that a recession occurs in 12 months from 20% to 35%.
Record Rotation out of US stocks
Fund Managers just rotated OUT OF U.S. Stocks at the fastest pace in history in March 2025
6.1 million Americans are behind on their mortgage
FHA delinquencies just hit 11.03% — the highest in years.
U.S. households are running out of emergency funds as pandemic cash runs out, inflation takes its toll – CNBC
It is becoming harder for Americans to raise funds in case of an emergency, according to a recent survey from the New York Federal Reserve.
The bank’s Survey of Consumer Expectations for February found that the average likelihood of Americans being able to come up with $2,000 within a month if an unexpected need arose hit 62.7%. That’s the lowest level since the survey began tracking the data point in October 2015.
“Taking into account that the CPI [consumer price index] level today is 35% higher than in 2015, the situation is even worse,” said Torsten Sløk, chief economist at Apollo.
Employment Data for February 2025
DOGE is truly shaking up the employment landscape of the U.S government. After all, the government itself should not be in any shape or form a gauge of economic expansion by using government employment as some sort of validating metric that the labor market is strengthening. The government is an administrative entity, operating at the cost of citizens. More government is never to be equated with economic growth/strength.
I support radical government reduction. At all levels, and in all countries. Trump or not, this position of mine is based on a very limited government classical liberal political belief.
End of 2024 reveals U.S. Households have allocated 29% of their financial assets to stocks, an all-time high
March Crash
At a point of the crash, the US stock market lossed over US $4 trillion in value.
Market Moves
Alphabet (Google) to buy WIZ for $32 billion in its biggest deal to boost cloud security, already generating more than $500 million in annual recurring revenues as of mid-2024.
CHINA ECONOMY
Industrial and Commercial Bank of China (ICBC) , the world’s biggest commercial lender by assets, announced on Wednesday the launch of an 80 billion yuan ($11.04 billion) technology and innovation fund to support the private economy.
The new fund aims to support “hard technology” via equity investment, referring to areas such as semiconductors and advanced manufacturing over “soft” technology such as internet services, according to a statement released by the state-owned bank.
The move comes after China last week laid out its major policy priorities for 2025 at an annual parliamentary meeting, including how it plans to spur consumption and achieve technological breakthroughs amid geopolitical tensions between China and the U.S.
Beijing launches $72bn capital injections at China’s 4 biggest banks.
Bank of China, Bank of Communications, Postal Savings Bank of China and China Construction Bank said they would raise Rmb165bn, Rmb120bn, Rmb130bn and Rmb105bn respectively in stock exchange filings on Sunday.
Authorities set a GDP growth target of 5 per cent for 2025 at a meeting of top policymakers this month, where they also pledged to issue Rmb500bn in special bonds to fund the capital injections into the banking sector.
China has boosted spending on its power networks to allow them to absorb more electricity from its world-leading buildout of solar plants.
Grid investment jumped by about 33% in the first two months of this year, more than double the average increase in 2024, according to data from the National Energy Administration.
China’s Unitree G1 robot demonstrates martial arts and performs the world’s first robotic kip-up
Schools in Beijing will introduce artificial intelligence courses to primary and secondary students to strengthen China’s goal to dominate the sector.
Starting Sept. 1, schools in China’s capital will offer at least eight hours of AI classes per academic year, the Beijing Municipal Education Commission said in a statement on its website
PANAMA CANAL
A deal struck by BlackRock to take control of two key ports on either end of the Panama Canal essentially aligns the world’s largest money manager with the preferences of the new Trump administration.
The situation involving China, BlackRock, and the Panama Canal developed when China’s State Administration for Market Regulation went ahead and initiated an investigation into potential violations of Chinese anti-monopoly laws. This action blocked Hong Kong-based CK Hutchison’s plans to sell 43 port facilities globally to a BlackRock-led investment group for approximately $22.8 billion.
The billionaire who controls CK Hutchison, Li Ka-shing, had announced the sale on March 4. The deal included critical ports at both ends of the Panama Canal and some facilities near the Suez Canal as well and was being spearheaded by BlackRock CEO Larry Fink.
An op-ed published in the pro-Beijing newspaper Ta Kung Pao condemned the sale as a “betrayal of all Chinese people,” which is pretty strong language.
Shaftesbury Capital will hold onto 75 per cent ownership and management control over the estate, which includes 220 buildings over 1.4 million sq ft on space in and around the Piazza, and Market Buildings as well as at nearby Seven Dials.
UK
UK energy regulator Ofgem approved a plan to stimulate as much as £4 billion of spending on the power grid as the country targets a zero-carbon network by the end of the decade
BRICS
Brazil advances blockchain-based financial integration for BRICS trade.
CUBA
Cuba’s national electrical grid collapsed late on Friday, leading to blackouts across the country after an aging component of a transmission line at a substation in Havana shorted, beginning a chain reaction that completely shut down power generation across the island, UNE officials said.
GOLD
March 14th, Gold prices close above $3000 USD for the first time in history.
After another 153K ounces of gold were delivered to Comex vaults, we are one day away from breaking the record for physical gold holdings hit shortly after the covid crash (39.48mm oz then vs 39.41mm oz today). The global scramble for gold just won’t end.
China’s central bank adds gold reserves for fourth straight month in February
FDIC said banks can engage in crypto activities without prior approval
CULTURE
Protest in Seoul, South Korea. Seoul ahead of President Yoon Suk Yeol’s impeachment ruling. More than 60,000 Yoon supporters gathered along Gwanghwamun Square.
Protest in Romania demanding Calin Georgescu be reinstated in the Romanian elections
I am obsessed with the macro world, where I seek to dissect and understand the ever-changing dynamics of the world on a monthly basis through a Political, Cultural & Economic lens.
